Secondary Market Specialist

Oregon Community Credit Union has an opening for a Secondary Market Specialist in the Eugene area. The Secondary Market Specialist manages the secondary market operation, including both the buying and selling of mortgages in connection with Credit Union goals.

Pay: $51,900 – $64,800 annually, commensurate with experience

Job Responsibilities:

  1. Originate new contacts in the secondary market and ensure the continuance of good relations with established investors. Act as a liaison to investors and work to maintain favorable relationships. Manage relations with correspondent lenders and secondary market contacts.
  2. Responsible for establishing and implementing quality control procedures to meet FNMA delivery standards.
  3. Daily monitoring of secondary market work flow to ensure accurate, timely receipt of closed loans and delivery to Secondary Market investors.
  4. Manage the production pipeline and provide the management of forward commitment options on a daily basis. Execute timely sale of loans to maximize gain on sale, ensuring that all investor requirements are met and loans sold are delivered and shipped to investors within expected time frames.
  5. In conjunction with Director of Real Estate Lending, research, develop, and recommend portfolio products and establish pricing guidelines. Analyze and recommend new risk and hedging tools. Provide management reports.
  6. Monitor and select loans for sale from the existing portfolio in conjunction with asset liability management. Execute flow and bulk loan sales into secondary market and loan delivery.
  7. Closely monitor financial markets, understand how market movement will affect interest rates. Help determine pipeline interest rate risk.
  8. Administer all secondary market duties that aid in selling and purchasing loans. Log information related to loan sales and purchases. Comply with secondary market laws.
  9. Recommend and assist Director of Real Estate Lending in implementing all procedures and processes.
  10. Responsible for maintaining relationships with third party servicers and implementing quality control to ensure standards are maintained.
  11. Keep abreast of changes in investor requirements and with investor technology updates, and act as liaison as issues arise with business partners.
  12. Keep informed of current trends in mortgage lending and market factors affecting mortgage lending and secondary market sales, updating department leadership frequently.
  13. Perform other duties as assigned.

Work Requirements:

  1. To follow all company policies and act as a role model to others in the following of these policies. This includes, but is not limited to, providing exceptional internal and external service, championing company values, representing the Credit Union with a high level of professionalism, working hard to support your teams, and arriving to work on time every day with a positive attitude
  2. Strong knowledge of PC based spreadsheet creation and maintenance, including linking, amortization and financial formulas.
  3. Excellent interpersonal skills, ability to communicate clearly, and demonstrate sound judgment.
  4. Understanding of general economic conditions and interest rate environment.
  5. Detail oriented with strong organizational analytical and oral/written communication skills.
  6. Ability to effectively navigate in various situations and highly complex environments and develop creative solutions.
  7. The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
  • Physical Demands: While performing the duties of this job, the employee is frequently required to sit; use hands to finger, handle, or feel and talk or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision and ability to adjust focus.
  • Work Environment: The noise level in the work environment is usually moderate.

Experience:

A minimum of five years’ experience in mortgage loans secondary market sales and purchasing at a financial depository institution or mortgage banking company. Previous experience in pipeline and portfolio hedging. Previous experience in selling loans as MBS pools. Knowledge of Ginnie Mae, Fannie Mae and Freddie Mac investor programs for both selling and reporting. Experience creating customized and ad-hoc reports using Excel and database queries. Experience in project management and working with Executive Management Team.

Education:

Equivalent to a college degree or equivalent work experience.

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